Purpose of a business loan
For this stage, an amount of € 290,000 is required for financing, which is intended to refinance / extend the existing loan.
Loan collateral
Mortgage of the first line of existing real estate - Mortgage. The loan will be repaid after the sale of all / part of the pledged property, from the sale of the company's development assets, current and future profits or after refinancing the loan.
Investment risk: C (higher)
LTV: 49%
Mortgage property: residential apartment (un.nr. 1094-0218-5015: 0006) with a total area of 229.21 m, address M.K. Čiurlionio str.2, Vilnius, Lithuania.
Value of mortgaged property: € 590,000
Interest:
• When investing from 100 € - interest 10%
• When investing from 2 500 € - interest 10.5%
Loan term
12 months (with the possibility of repayment earlier, but not earlier than after a period of 3 months).
If the Borrower repays the Loan amount or a part thereof earlier than 3 months after the due date of 12 months, it undertakes to pay interest to the Lender for a period of 3 months. After a period of 3 months, the Borrower may repay the loan (together with the applicable interest) without any additional fees.
Company loan repayment period
Estimated start date of the loan: 2021 03 01
Expected repayment date of the loan: 2021 12 01 - 2022 01 01